Conexant investor relations contact: Mike Cortright Conexant Systems,

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Conexant investor relations contact: Mike Cortright Conexant Systems,

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carol.thornton@conexant.com
Conexant investor relations contact: Mike Cortright Conexant Systems, Inc. (949) 483-6773
investor.relations@conexant.com
Maker editorial contact: Roman Kichorowsky Director Marketing Communications Maker Communications (508) 766-3257
romank@maker.com
Maker investor relations contact: Michael Rubino Vice President Finance Maker Communications (508) 766-3268
mrubino@maker.com
CONEXANT ACQUIRE MAKER COMMUNICATIONS
Combined company will leading provider network processing physical layer semiconductor products Internet infrastructure NEWPORT BEACH, Calif., December 1999 Conexant Systems, Inc. (NASDAQ: CNXT), announced today that acquiring Maker Communications (NASDAQ: MAKR), Framingham, Mass., industry' leading provider programmable, highs performance network processors, software solutions development tools. combination will create industry' broadest portfolio network processor physical layer semiconductor products Internet infrastructure will enable level systems integration unmatched other communications semiconductor company. all-stock transaction, which been approved boards directors both companies, Maker shareholders will receive 0.66 share Conexant common stock each share Maker common stock they own. Conexant' closing stock
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Conexant Acquire Maker Communications
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price Friday, December 1999, transaction valued approximately $990 million. "Maker pioneer network processor market, with real products, customers revenue. This acquisition strategically extends Conexant' network access product portfolio into high value, software-intensive, protocol processing applications," said Dwight Decker, chairman chief executive officer Conexant. Conexant, through Network Access Division, provides industry' broadest portfolio physical-layer communications products, including asynchronous transfer mode (ATM), T1/E1 T3/E3 carrier, optical networking (SONET/SDH), digital subscriber line (DSL), multi-service voice data access concentration. "Going forward, expect provide customers with unequaled level systems integration combine current physical layer products with Maker' higher layer protocol processors deliver high-performance solutions tailored Internet infrastructure, broadband access, next generation packet-based telecommunications networks," Decker added. "Combining forces with market leader that product breadth geographical scope Conexant gives Maker opportunity dramatically expand network processor business worldwide," said William Giudice, president chief executive officer Maker Communications. "The combination companies will bring customers powerful partner designing supplying critical product technologies driving broadband Internet services content exploding subscriber base."
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Conexant Acquire Maker Communications
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transaction subject customary regulatory approvals approval Maker' shareholders. Holders approximately Maker' outstanding common stock have executed agreements vote their shares favor transaction. acquisition expected close within days. "This transaction will utilize purchase method accounting expected slightly dilutive fiscal year 2000 earnings, before one-time charges goodwill authorization," said Bala Iyer, senior vice president chief financial officer Conexant. expect, however, that acquisition will become accretive, cash earnings basis, within months after closing transaction, further expect build business annualized revenue run-rate $100 million calendar 2001." Note Analysts Editors Conexant Maker Communications will conduct analyst telephone conference today 9:00 a.m. telephone press briefing today 1:00 p.m. EST. dial-in numbers both (800) 633-8481 (Domestic) (212) 676-5391 (International). recorded playback analyst teleconference will available Dec. 1999, from 8:00 a.m. 7:00 p.m. PST. access playback, call (800) 633-8284 (Domestic) (858) 812-6440 (International); enter reservation number: 13906721. Safe Harbor Statement
This press release contains statements relating future results company (including certain projections business trends) that "forward-looking statements" defined Private Securities Litigation Reform 1995. Actual results differ materially from those projected result certain risks uncertainties. These risks uncertainties include, limited company' ability integrate Maker into operations;
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Conexant Acquire Maker Communications
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achieve synergies necessary produce accretion cash earnings within months close transaction; growth market Maker' products achieve annualized revenue rate $100 million 2001; global market conditions, including, limited cyclical nature semiconductor industry markets addressed company' customers'products; demand market acceptance existing products; successful development products; timing product introductions; availability extent utilization manufacturing capacity; pricing pressures other competitive factors; changes product mix; fluctuations manufacturing yields; product obsolescence; ability develop implement technologies obtain protection related intellectual property; successful implementation company' diversification strategy; labor relations company, customers suppliers; timely completion Year 2000 modifications company suppliers customers; uncertainties litigation, well other risks uncertainties, including limited those detailed from time time company' Securities Exchange Commission filings. These forward-looking statements made only date hereof, company undertakes obligation update revise forwardlooking statements, whether result information, future events otherwise. Other brands names contained this release property their respective owners. About Conexant With revenues approximately $1.5 billion, Conexant world' largest independent company focused exclusively providing semiconductor products systems solutions communications electronics. With more than years experience developing communications technology, company draws upon expertise mixed-signal processing deliver integrated systems semiconductor products broad range communications applications. These products facilitate communications worldwide through wireline voice data communications networks, cordless cellular wireless telephony systems, personal imaging devices equipment, emerging cable wireless broadband communications networks. company aligns business into five product platforms: Network Access, Wireless Communications, Digital Infotainment, Personal Imaging, Personal Computing. Conexant member Nasdaq-100 Index, which represents largest most active stocks listed Nasdaq Stock Market across major industry groups. more information, visit Conexant www.conexant.com. About Maker Communications Founded 1994, Maker Communications, Inc. fabless semiconductor company that designs, develops markets high-performance programmable network processors, development tools application software variety communications systems including routers, switches, edge devices access products. Maker focuses emerging high-growth segments communications systems market that require sophisticated traffic management internetworking. company' MXT3010 Cell Processor related software target high performance segment Amarket. MXT4000 Traffic Stream Processor family related software provides complete solution building Packetover-SONET Acore networking equipment. MXT5100 Edge Stream Processor software address growing market flexible multi-service access equipment. Maker Communications based Framingham, Massachusetts, http://www.maker.com.
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Conexant Acquire Maker Communications
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Conexant investor relations contact: Mike Cortright Conexant Systems,

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